At a meeting in Harpa concert hall today, the creditors of Kaupþing Bank agreed to pay ISK 120 billion (USD 937 million, EUR 839 million) in stability contribution in order to be exempt from capital controls.
The 12-month rate of inflation in Iceland now measures 1.9 percent, according to Statistics Iceland.
Sigurður Einarsson, the former chairman of Kaupþing bank, has formally requested the Reykjavík District Court declare him personally bankrupt.
Business directors’ assessment of the current employment situation is similar to what it was at the beginning of the financial boom in 2004, and their forecast for the next six months is better than what it was during the boom, between 2004 and 2007.
Títan Investments, a company solely owned by WOW air CEO Skúli Mogensen, increased its share in the budget airline by ISK 655 million (EUR 4.5 million/USD 5.2 million) in December 2014.
Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson has declared that the long-running Icesave dispute with the UK and the Netherlands is now officially over—taking the opportunity to congratulate Icelanders on a complete victory.
The analysis department at Arion Bank has released a report saying that welcoming a large number of refugees to Iceland would be a very extensive and expensive project, but that the long-term economic effect would be a positive one—adding that there is little to suggest that the move would cause...
Iceland and the European Union yesterday signed a new convention which will see both parties abolish import duties in several key food areas.
Fishermen and fisheries workers look set to lose between ISK 990 million and ISK 2.5 billion per year (EUR 6.9-17.3 million/USD 7.8-19.7 million) as a result of the trade sanctions levied against Iceland by Russia. Ten communities will be particularly badly hit by the trade ban, according to the...
At the end of 2014, more than six years after the financial crisis, Icelanders still possessed ISK 31.6 billion (USD 247 million, EUR 219 million) in the British Virgin Islands, and almost solely on the island of Tortola, according to new figures from the Central Bank of Iceland
Iceland’s GDP (gross domestic product) for the first two quarters of 2015 increased by 5.2 percent compared with the same period of 2014. Total domestic final expenditure increased by 7.3 percent, as Statistics Iceland reported this morning.
Danish-Icelandic artist’s Ólafur Elíasson’s project Little Sun has exceeded expectations in crowdfunding.
Tulipop, a line of children’s products designed by Signý Kolbeinsdóttir and Helga Árnadóttir, was awarded the ‘Best Newcomer’ award in its category at the prestigious Smallish Design Awards.
Property prices continue to rise in Reykjavík, partly because of pressure from the tourist rental market.
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the bank’s interest rates by 0.5 percentage points.
Icelandair has announced plans to offer direct flights to Aberdeen, Scotland, beginning March next year.
North and East Iceland are expecting one of the worst grain harvests for decades, thanks to the long winter and poor spring and summer this year.
The year’s first catch of tuna made by fishing company Vísir in Grindavík came ashore this morning and consisted of 19 fish.
Icelandic bank Landsbankinn has decided to freeze the design competition for its new headquarters, planned for later this month. The bank says in a statement on its website that the decision was made so that it can consider the various points-of-view that have come forth in the last few weeks....
Iceland ranked as most expensive in five of the 12 goods and services categories studied in 37 European countries, according to new figures from Eurostat. Clothes, shoes, household appliances, electronics and transportation services were all more expensive than elsewhere.
An agreement has been signed between Ethiopian Electric Power (EEP) and Corbetti Geothermal Plc, whose investors include Reykjavik Geothermal, Berkeley Energy, and Iceland Drilling.